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I wrote this post in 2017 and a couple earlier about using your smart phone as your new computer. I just checked the nextdock website and it appears their shipping their first laptop style device this coming November and the price…lnkd.in/fRkRYpSlnkd.in/fB88kNv

Are you chasing money? If so, you’ll probably know the hard way that credit management is about chasing money owed TO a business (Accounts Receivable) and managing the money owed BY a business (Accounts Payable).

Credit can be a very scary thing when money and cashflow is tight! Machines and software are replacing humans for many data entry type tasks, but nowadays this is also the case for chasing money owed (Accounts Receivable).

Accounts Receivable Jobs Require Patience 🙂

Accounts Receivable tasks are a balance between getting paid and maintaining a courteous and professional relationship with your customers. This can be really challenging when you constantly hear the words “the cheque is in the mail” or whatever the current equivalent is.

Take the Emotion Out and Systemise Your Accounts Receivable

The most important thing is to have a strategy of regular and frequent contact. This lets your customers know that you are keen to get paid quickly and professionally. Here are some simple things that are great to systemise:

Discuss and reinforce your terms

Make sure you’ve got the right contact information

Include payment details & options for payment

Use email to communicate promptly

Offer incentives for quick or early payment

Clean, clear and concise communications — keep it to the point and be assertive (not aggressive).

Email May No Longer be Enough: You Can Now Use SMS and More

Just like bank feeds, automated receipt scanning and other accounting functions which are becoming automated the process of chasing money is also available as a service.

A company that I’ve written about in the past, ezyCollect is one such provider.

When I think about the service that this company provides it reminds me about how a lot of the digital marketing tasks are automated. You set up a process of events including email AND SMS as well as phone calls so that paying their invoice remains front of mind for your customers.